4274 Cortland St · Detroit, MI 48204

$55,000

4 bd · 1.0 ba · 1,150 sqft · Townhouse public records · 265 Days on market

Built 1924 3,920 sqft lot $48/sqft · 46% above area Est $76k · 28% under ↓ 10% since listing

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

This brick duplex offers over 2,300 square feet of living space with two spacious 2-bedroom, 1-bath units. The property is vacant and ready for renovation. Located near Broadstreet Ave and Cortland St, with easy access to Davison, Livernois, and Grand River, this property sits in the sought-after Russell Woods neighborhood known for its classic architecture and strong community presence. Zoned for residential use, this property offers strong potential for redevelopment or a new residential project. The parcels are government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

Key facts

• 3,920 sq ft lot
• Built 1924
• Listed 265 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $55k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 10.2% in Detroit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Detroit Public Schools Community District (urban): math 10% / reading 24% proficiency, ranked #499 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 244 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,303/mo this rent would consume 45% of the median local household income ($34k/yr) (locally 1418% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $6k of equity ($380 loan paydown + $6k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 265 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $1k; list at $55k implies a 5400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 265 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.37% ✓
• Cap rate: 20.00%
• Cash-on-cash: 48.95%
• DSCR: 3.18
• GRM: 3.5

CMA / ARV

• ARV (median comp): $76,101
• List price: $55,000
• Delta: -27.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.7%
• Equity multiple: 5.55×
• Total profit: $69,998
• Equity at exit: $49,548

10-year hold

• IRR: 56.3%
• Equity multiple: 12.35×
• Total profit: $174,733
• Equity at exit: $106,853

Cash invested: $15,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,303 high
• Mortgage (P&I): −$288
• Tax from tax record: −$90 /mo · $1,081/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $628

Break-even live

Break-even rent $508

Max offer price $55,000

Occupancy floor 47%

Sensitivity live

Price	-10% $659	-5% $644	+0% $628	+5% $613	+10% $597
Rent	-10% $525	-5% $577	+0% $628	+5% $680	+10% $731
Rate	-1.0pp $656	-0.5pp $642	base $628	+0.5pp $614	+1.0pp $599

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	44d	1	0.29mi
11704 Broadstreet Ave Detroit, MI	3.0	1.0	1200	$1,050	$0.88	44d	1	0.34mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	44d	1	0.40mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	17d	1	0.40mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	5d	1	0.45mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	44d	1	0.50mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	25d	1	0.50mi
4287 W Grand St Unit 4289 Detroit, MI	3.0	1.0	1250	$1,000	$0.80	44d	1	0.54mi
12032 Santa Rosa Dr Unit 1 Detroit, MI	3.0	1.0	900	$1,423	$1.58	5d	1	0.55mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	25d	1	0.75mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	13d	1	0.78mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	44d	1	0.78mi
13620 Tuller St Detroit, MI	4.0	1.0	1064	$1,374	$1.29	13d	1	0.80mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	0.91mi
9376 Otsego St Detroit, MI	3.0	1.0	873	$1,396	$1.60	44d	1	0.91mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	2d	1	0.94mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	44d	1	0.96mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	0.97mi
3040 Kendall St Detroit, MI	5.0	1.0	1188	$1,386	$1.17	13d	1	0.98mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	44d	1	0.99mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	17d	1	1.01mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	44d	1	1.01mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	2d	1	1.09mi
14011 Roselawn St Detroit, MI	4.0	1.5	1300	$1,450	$1.12	18d	1	1.09mi
13979 Cherrylawn St Detroit, MI	3.0	1.0	1296	$1,334	$1.03	21d	1	1.22mi
13620 Kentucky St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	5d	1	1.33mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	44d	1	1.34mi
3786 Carter St Unit 2 Detroit, MI	3.0	1.0	1400	$1,100	$0.79	25d	1	1.35mi
3220 Gladstone St Detroit, MI	3.0	1.0	1248	$1,200	$0.96	44d	1	1.37mi
12144 Washburn St Detroit, MI	3.0	1.0	1200	$1,200	$1.00	15d	1	1.38mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	20d	1	1.40mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	5d	1	1.40mi
14550 Northlawn St Detroit, MI	3.0	2.0	950	$1,200	$1.26	17d	1	1.41mi
14656 Roselawn St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.41mi
3757 Blaine St Detroit, MI	3.0	1.0	1169	$1,480	$1.27	17d	1	1.44mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	44d	1	1.46mi
14570 Cherrylawn St Detroit, MI	3.0	1.0	840	$1,250	$1.49	13d	1	1.46mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.46mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	1.49mi

Listing history 28 events

1. 2026-06-18
   days on market $55,000 Active 265 DOM
2. 2026-06-17
   days on market $55,000 Active 264 DOM
3. 2026-06-15
   days on market $55,000 Active 262 DOM
4. 2026-06-13
   days on market $55,000 Active 260 DOM
5. 2026-06-13
   days on market $55,000 Active 259 DOM
6. 2026-06-09
   days on market $55,000 Active 256 DOM
7. 2026-06-08
   days on market $55,000 Active 255 DOM
8. 2026-06-07
   days on market $55,000 Active 254 DOM
9. 2026-06-04
   days on market $55,000 Active 251 DOM
10. 2026-06-03
    days on market $55,000 Active 250 DOM
11. 2026-06-01
    days on market $55,000 Active 248 DOM
12. 2026-05-31
    days on market $55,000 Active 247 DOM
13. 2025-09-27
    listed $55,000 Active 1526-char remark

    Show marketing remark (1532 chars)

    This brick duplex offers over 2,300 square feet of living space with two spacious 2-bedroom, 1-bath units. The property is vacant and ready for renovation. Located near Broadstreet Ave and Cortland St, with easy access to Davison, Livernois, and Grand River, this property sits in the sought-after Russell Woods neighborhood known for its classic architecture and strong community presence. Zoned for residential use, this property offers strong potential for redevelopment or a new residential project. The parcels are government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

14. 2025-09-27
    listed $55,000 Active 1532-char remark

    Show marketing remark (1532 chars)

    This brick duplex offers over 2,300 square feet of living space with two spacious 2-bedroom, 1-bath units. The property is vacant and ready for renovation. Located near Broadstreet Ave and Cortland St, with easy access to Davison, Livernois, and Grand River, this property sits in the sought-after Russell Woods neighborhood known for its classic architecture and strong community presence. Zoned for residential use, this property offers strong potential for redevelopment or a new residential project. The parcels are government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

15. 2025-09-26
    historical $55,000 1526-char remark

    Show marketing remark (1526 chars)

    This brick duplex offers over 2,300 square feet of living space with two spacious 2-bedroom, 1-bath units. The property is vacant and ready for renovation. Located near Broadstreet Ave and Cortland St, with easy access to Davison, Livernois, and Grand River, this property sits in the sought-after Russell Woods neighborhood known for its classic architecture and strong community presence. Zoned for residential use, this property offers strong potential for redevelopment or a new residential project. The parcels are government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.

16. 2014-07-30
    soldstatus $1,000
17. 2014-07-30
    soldstatus $1,000
18. 2014-07-30
    soldstatus $1,000
19. 2014-07-25
    historical
20. 2014-06-23
    historical
21. 2014-03-10
    listed $1,300
22. 2014-03-10
    listed $1,300
23. 2013-12-26
    listed $1,300
24. 2013-10-30
    historical
25. 2013-10-30
    historical
26. 2013-10-28
    listed $3,000
27. 2013-10-26
    listed $3,000
28. 2012-11-09
    soldstatus $61,248

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,081 · $90/mo
• Projected year-2 tax: $1,081 · $90/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,640
• − Mortgage interest: −$3,081
• − Property taxes: −$1,081
• − Insurance: −$275
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$1,600
• Taxable income: $7,101
• Est. tax owed @ 24.0%: −$1,704
• After-tax cash flow: $5,834/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Detroit Public Schools Community District
• NCES district ID: 2601103
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 6.00%
• Median HH income: $25,815
• Composite: 13.06/100
• National rank: #9564
• State rank: #499 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety B- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 36.51%
• Current HPI: 234.0465
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

-10.2% since first listed

16 events — show timeline

• 2025-09-27 Listed $55,000 MiRealSource-MiMLS
• 2025-09-27 Listed $55,000 REALCOMP
• 2025-09-26 Coming Soon $55,000 MiRealSource-MiMLS
• 2014-07-30 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2014-07-30 Sold (MLS) $1,000 REALCOMP
• 2014-07-30 Sold (MLS) $1,000 MiRealSource-MiMLS
• 2014-07-25 Listing Removed — MiRealSource-MiMLS
• 2014-06-23 Listing Removed — MiRealSource-MiMLS
• 2014-03-10 Listed $1,300 MiRealSource-MiMLS
• 2014-03-10 Listed $1,300 REALCOMP
• 2013-12-26 Listed $1,300 MiRealSource-MiMLS
• 2013-10-30 Listing Removed — MiRealSource-MiMLS
• 2013-10-30 Listing Removed — MiRealSource-MiMLS
• 2013-10-28 Listed $3,000 MiRealSource-MiMLS
• 2013-10-26 Listed $3,000 MiRealSource-MiMLS
• 2012-11-09 Sold (Public Records) $61,248 Public Records

Property tax history

-6.4%/yr

Latest (2025): $1,081 · +0.0% YoY. Source: county tax records.